Registered number. 09832765 Charity numbor. 1166S79 PRISCILLA BACON NORFOLK HOSPICE CARE LIMITED IA company limited by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 *AEIRSJ42* 0310W25 COMPANIES HOUSE #165 PRISCILLA BACON NORFOLK HOSPICE CARE UMITED IA wnpany limlted by guarantse) COKTEP￿s Page Refvrnncg and admlnlstratlv• dolalls of the Charfty. Its Trustots and advlsers Trustees. report Independent auditorn. report on the financial sLitements Consolidatsd statement of financial activities 9-12 13 Consolidated balance sheet 14 Charity balanee sheet Consolidatod statement of cash flows 16 Notes to the financlal statomonts 17-35 PRISCILLA BACON NORFOLK HOSPICE CARE LIMITED (A Company limitsd by guarantso) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARiff. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCT08ER 2024 Tru8tee8 Bacon Charfes Barratt {resigned 31 Dec￿nber 2023) Andrew Bames Kn"5ts"an 8owtes MBE Robert Carter Iwgned 31 t*mber 20231 Anna Dugdale Pelef Joyner lain Mawson (reggned 31 De¢ember 2023) Mark Proctor (app)Inted 1 January 2024} Linda RoiErts lapFointed 1 January 20241 Ju*n Ripman lapFointed 26 March 2024} Philip Gom)ley lapp)inted 24 September 20241 Company registered number 09832765 Charlty registered number 1166579 Registered offi Priscilla Bacon Lojgg Century Pla Cdney Nwch NOrf￿k NR4 7YA Commercial Dir•ctor Feam ￿"n￿￿Orth Independenl auditors Larking Grmen LLP Chartered Accountsnls 1s1 Floor ProspKt Fk)use Rouen Road Norwich NR1 1RE Bank•rs National Westrninster Bank PLC 36 St Andrew Squ*e Edinburgh United Kingth EH2 2YB Sollcltors Leathes Prior 74 The Close Nonwich NR14DR Page 1 PRISCILLA BACON NORFOLK HOSPICE CARE UMITED IA company limited by guarnnteel TRUSTEES. REPORT FOR THE YEAR ENDED 31 OCTOBER 2024 Chairman'8 Introductlon As Chaiman of PrisrAlla Bxon Norfolk How1￿ Care Limil8J. I prO￿j lo present this yearfs audit repJrt, which highlights the sgnificanl prcoralion with NCHC Our ongoing Colla￿ratIon wth NCHC has strengthened partnerships and improved service delivery. Regular meetings and joint initiatives have been established lo ensure Se￿lesS integration and shared objectives. This collaboration has led to enhanced patient care and resource sknng OFP)rtunit*s. D¢v¢lopm•nl of brand, eollatsral. and digitsl ¢ont•nl We have made signifK2nt strides in refining our identity. ensuring consistency xross all communicalions. New marketing collateral. including bT￿hures and digital assets, has t*en developed lo better engage stskeholdefs. A(klilionally. our digilal presence has been enhanc￿1 wth a redeygned website and an increased focus on social media engagement. Launch of B•rèavement Seryk• Our Bereavement Serviee has been ￿e$S[vIlY introducaj, providing e$5ents"al support to families and individuals experiencing loss. The Serviee now offers structured 8-week group courses, one-on-one counselling, and monthly drcpin 5es5ion& Initial feedbad( has been overwhglmingly p05ttive, highlighting the Service's irnpact on mental well*eing and emotional SUPFKJrt. Launch of Mu81¢ Therapy Service Our Music Therapy servi￿ has been launched as a key componenl of our holistic care approach. This initiative has t*en well received by patients and families. providing mnfort and emotsonal relief through tailored music sessions. Our Irwned therapist is now Vh)rking wilh irtdividuals arKI groups, enhanung patient experiences and well-being. Increased onhanc•mont of the grounds Page 5 PRISCILLA BACON NORFOLK HOSPICE CARE LIIAITED IA company limited by guarantee TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Efforts to improve cyJr outdoor spaces have continued. creating a more welcoming and therapeutic environment. Landscaping proÈects. additional seatiNJ areas, and improved xcessibility fealures have been im ￿ernented. These enhancernents have conlribLrted to a more p￿lu1 settiThJ for patients, families. and visitors. Design and ￿nstrU￿10n of the Bere•vement Bullding The Bereavement Building prqecl has prcgfessed Well. ￿th final items for the interior in prCy3re￿ This dedicated wll provide a private and SUp￿1ve environment for bereavement services. Increased bed occupancy ulilising Continuing Healthcarn funding models We have made a conlribulion to the SJ¢xe$￿￿l opbmisation of bed ￿¢upa￿eY al pri￿111a Bacon Lcrtlge. This has led to increased patsent admissions and improved financial sustainabilrty. By ￿fIning referral processes and strengthening partnerships, ¢0￿rtY has bew maximi5ed while maintaining high-quality care stsndards. Overall. these initiatives mark signrf￿nI prw t(Th￿ards our rnission of providing exceptional care and support. We remain committed lo bjilding ￿ this momenlum and further enhancing our services in the coming months. Retsil operatlon8 PBR, the Charity's trading subsidiary, operate5 8 shr¥s in Norwich suburban areas as well as market towns to the north-west and north-easl of NoMth. The eighth shop. o￿ned in Bowthorpe during the year. has been a useful addition lo the retail operation and has been the first lo offer small items of furnitu￿. The continued support of donated goods from the puljic arKI c£Jrp)rate organisations. received al our warehouse in Drayton or through our house dearan¢e seNice. is paramount to the gjccess of the Charity's shops in order to wnlinue our level of incc*ne and future growth. The online plattorms have ￿ntinUed to te benefiual in generating income and providing a new slream of income into the retail operation. The revenues generated by PBR directly support the wider fundraI￿ng ams crf the Charity. The running of the shops is supported by a group of 150 vdunteers. FIDancial revi•w During the Teporting year total inc(Yne amounted lo £3.132,549 12023 £3.209.5481 and after incuiring expenditure of £2.206,972 {2023 - £1.024.4371 the totsl funds in￿eased by £925.57712023- £2.185,1111. In addition, donations in kind have been provKled by a multitude of busnesses and in the areas of design and construction prqect th, business engagement, marketing and communicats.ons suprrt)rt, events. partneTships, payroll services and insurance. Roserves Pollcy In line wth Charity Commission guidance. Prisalla Bacon Norfolk Hospice Care Limited has developed reseNes policy that is aFpropriale for the Charty. The policy takes into account the need to set a&de funds lo ensu￿ sustainability. manage uncertainty but also to support the fundin9 of futu￿ planned and scheduled activities and services to our ber￿[￿laries. Priscilla Bac￿ Norfolk Hospice Care Linited holds r￿r¥e$ to enatAe it to meet its contractual obligations (including ￿MmItted administrative ￿$1$) and ￿taIn a suffKcient maoin of funds to meet the cost of unforeseen events. The Truslees, target for free reserves is £954,000. vthich repregenls 6 months of operating cost& contraclval emptoymenl otAigalions and commercial lease ot4igalions in relatson lo subsidiary activities. The free reserves wll consist of Un￿strICted funds not invested in langble fixed assets or designated for Page 6 PRISCILLA BACON NORFOLK HOSPICE CARE LIMITED (A company limitsd by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 OCTOBER 2024 speerfie purF4)ses. The Chaiity has free reserves of £2.185.246 as at the year end. Th6re are ptans in pl￿ to ulilise ex￿$$ funds in the development of seThices to our tene￿arleS. The free reserves will consist of unreslrrcted funds not invested in tangible fixed assets or designated for specific purposes. Unrestricted funds al the year end totdled £2.396,934 12023 £945.2351, and restricted funds tolalled £13,239,71212023- £13.765.834). Plan8 for tho future 1. Expartlng Bereavement Services Broaden our bereavement SUp￿t to include dedicated famity a￿stanCe. Intr0dL￿e art therapy as a therapeuts¢ approach for grief and healing. Develop structured programs that integrale coun*lling, peer support, and creative expressbon. 2. Developing gjstainable inccrfne streams Idenlify diverse revenue sources. including grants. corporate partnerships, and community fundraising. Establish a long-term finanaal sustsinakn'lity plan to enwre conlinued Servi￿ defivery. Explore opportunities for social enlerprises or tharity-run bugnesses lo generate additional irKcffle. 3. Enhancing financial processes Implement financial policies and procedures that improve transparew ￿cOUntabl11ty. Streamline internal financial prctesses for efficient resource management. Regularly reviewfinanual perf¢ymance and adjust slraleg*s as needed. 4. Strenglhening administrative sup￿￿rt Enhance administrative capacity to facilitate the Charity's continued gr￿￿h. Implement systems to improve data management, rerM)rting. arKI communication. Pfovide staff and volunteers wth training and fesources lo oplimise efftcieiKy. S. Launching and h05ting fundraisng evenls Develop and PTomote new fundraising events to engage the community. Strengthen donor relabonships and encourage reeurring contributior￿. Ulilise digital plattomis lo expand fundraising efforts and increase reath. 6. Increasing outpth'ent utilisalion al Prixilla Bacon Lc*Jge Raise awareness of outpatient services through targeted OLffteach and partnerships. Contribute to improvements in accessibility. Expand service offerings to meet the needs of a broader patient demographic. 7. Expanding grounds and fflaintenan￿ sUtp)rt R￿T￿tt additional staff io ensure the upkeep of the Charity's fa￿litieS. Implement maintenance schedules lo enhan￿ the environment for patients and families. Invest in irrfraslructure improvements Whe￿ necessary. 8. Integrating in-house Catering Serv Through the inlemal manageM￿t of the café patient meal services to Contin￿ to enhance quality and service. Continue lo develop nutritious meal plans tailored lo patient needs. Establish further partnetships with local suppliets to ensure sustainability arKI cosl-effectiveness. 9. Developing a new Web￿te Create an upjaled, user-friendly website for t#)Ih Charity engagement and patient resources. Ensure the webwle is accewble. infomabve, and easy lo navigate. Incorporate online donation features. ecomrneree and event registration options. Page 7 PRISCILLA BACON NORFOLK HOSPICE CARE UMITED (A company l•mited by guarantee TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Statement of Trustees. rnspon$lbilltle8 The Trustees (who are alx) the Directrys of Prisolla B￿n Norfolk Hosp¢e Care Limited for the purposes of company law) are responsible for Pfeparing the Trustees. report and the financial statements in accordance with applicable law and United Kiwm Accounting Standards (United Kingkn Generally Accepted Accounting Practti). Company law requires the trustees to prepare financial statements for each financial year. Under company law the Trustees must not aFvrove the financial staternents unless they are sab"sfied that they give a Irue and fair view of the state of affairs of the Group and the Ccffipany and of their incoming resources and application of resources, including their inecffle and expendrture. for that pen¢xl. In preparing these financial statements. the Trustees are required to: select suitable accounting F￿1cleS aNJ then aOy them consislenlly,. observe the rnelhods arKI prinuples of the Charities SORP IFRS 102).. make judgments and accounting estimates that are reasonable and prudent. state whether arplica￿e UK Acct)unting Stsndards IFRS 1021 have l)een follo%*d. subject to any material departu￿ disclosed and explained in the financial statements: prepare the financial statements on the going concem basis unless it is inappropriate to presume that the Group will continue in busness. The Trustees are resFonsble for keeping adequate accountiry records that are sulfiuent to show and explain the Group and the Company'$ transactions and dixlose *Mth reasonable al any lime the financial position of the Group and the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also respongble for safeguarding the assels of the Group and the C¢xnpany and heTr￿ for taking rea9)na￿e steps for the prevention and deteclion of fraLKb and irregularities. Disclosure of informalion to auditors Each of the pergjns who are Trustees at Ihe time %then this Truslees. Report is approved has confimied that.. g) far as that Trustee is aware, there is rbo relevarbt audrt infonnatson of which the charitable group's auditors are unaware, and that the Trustee has taken all the steps that ought to have been taken as a tnjstee in order to be aware of any ￿levant audrt information and to establish that the charrtable group's auditors are aware of that infomiation. Approved by order of the members of the bowd of Trustees and signed on their behalf by.. Andrew Barn•s Date. (k Page 8 PRISCILLA BACON NORFOLK HOSPICE CARE UMITED company limltsd by guarants•} INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PRISCILLA BACON NORFOLK HOSPICE CARE LIMITEO Opinion We have aKlited the financial statements ol Prisalla 8a￿ Ncrfolk HOsp￿e Care Limited (the 'parenl charitable CL)rnpany'J and its sub5idiarie5 (the 'group'l for the year ended 31 October 2024 vthich comprise the Consolidated slalement of finanual activitses, the Conxjlidated balance sheel, the Charity balance sheet, the Consolidated ststemenl of cash flows and the related notes. induding a surnrnary of sgnificanl accounting policies. The finanoal reporting framevrt)rk that has teen applied in their P￿Paration is applicable law 8nd United King¢Jom Accounting Standards. induding Financtal Repo￿n9 Slandard 102 'The Finanual Reporting standard ap￿1¢ab]e in the UK and Repthlrc of Irelwwj, Iunrted lfjngthyn Generalty Accepted Accounting Practice). In our opinion the finanual statement& gNe a true and fair view of the stale of the Group's of the parent charilable company's affairs as at 31 October 2024 and of the Group's incoming resources and application of resources, including its income and expenditure for the year Ihen ended: have been propedy pyared in aCcC￿￿￿￿ wth United lfjn9kn1 Generalty Accepted Accounting Practice". and have been prepared in &cordaKe wth the requirements of the CompaniesAct 20C6. Basis for opinion We conducted cmjr audit in 8e¢ordance with International Standard5 on Auditing {UK) IISAS IUK)} and applicable law. Our ￿sFx)nSibllrtleS under those standards are further dexrited in the Auditors, responsibilities for the audit ol the financial statements section of cwr ￿pOrt. We are independent of the Group in accordance th the ethical requirements that are relevant lo our audit of the financial slalemenls in the United Kingdom, induding the Financial Rewrting Cwncil's Elhical Stsndard, and we have futlilled our other ethical responstbilities in accordance wth these requirements. We believe that the a￿￿11 evidence we have obtained is suffiuenl and appropriate to provide a basis for our Opin￿n. Conclusions relating to going concern In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of accounting in Ihe p￿parab"on of the finanoal ststements is appropriate. Based on the VKJrk we have pertomed. ￿ have not identifierj any m*erral uncertainbes relating lo events or conditions that. individually or collectivety. may cast ggnificanl doubl on the Group's or the parenl charitable company's ability to continue as a going concem for a peric*J of at least ￿1ve months from when the financial staternents are authorised for issue. O¥Jr responsibilitie5 and the responsbilities of the Trustees *fjth respect lo ￿n￿rn are d￿ribed in the relevant sections of this report. Page 9 PRISCILLA BACON NORFOLK HOSPICE CARE LIMrrED (A company limiled by guardnle?) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PRISCILLA BACON NORFOLK HOSPICE CARE UMITED ICONTINUED) Other inforniatlon The other infomation comprises the infomalion induded in the Annual rewrt other than the financial statements and our Auditors. report thereon_ The Trusl*s a￿ respongble for the olher information contained within the Annual rep)rt. Our opinion on the fin￿¢la1 statements does Th)1 cover the other infomialion and, ex￿p* to the extent olherwise expli¢idy stated in our reFKsrt. we tr) not express any form of assurance conclusion thereon. Our responsbility is to r&id the other infomiatiorb and, in doing so. wnsider whether the other infom)alion is materially inconsstent with the finanaal statements or our knowledge obtained in the course of the audit. or olhewse apFears lo be materially misstated. If we Identify such material inconsistencies or aF¥>arent material misslatemenls, a￿ required to determine whether this gives rise to a materi81 misstatement in the financ￿1 slalemenls themselves. If, based on the work we have ￿rfOrned, we conclude thal there is a material misstatement of this other informalim, 7Ae are required to rep)rt that fact. We have nothing to ￿port in this regard. Opinion on other matt815 prescrll)od by lh• Companles Act 201)6 In c￿r opinion, based on the work undertaken in the eourse of the aud the information given in the Trustees. reFQrt for the financial year for which the financial statements are prepared is con&stenl with the finanaal slatements. the Trustees. report has been prepwed in ac￿rdanCe *ith apFliQ￿e legal requitments. Mattors on which wè aro reqtsired to report by exception In the light of our kn￿ledge and understsnding of the charitsble company and its environment obtained in the course of the audi( we have not identified material misstatements in the Trustees. report. We have nothing to reryjrt in ￿SpeCt of the folkmryng mattets in relation to vthich Companies Act 20C6 requires us lo report to you rf, in our opinion.. the parent charitale c(xmp3ny has kept adequate and suifiuent &counting records. or retums adequate for our audit have not been receNed from brnnches nol visited by us,. or the parent charitable company financial *atements a￿ not in agreement Ihe accounting records and retums. or certain disclosures of Trustees. remuneration specified by law are not made.. or y￿ have not Tecewed all the information and explanations we require for our audit Page 10 PRISCILLA BACON NORFOLK HOSPICE CARE LIMITED (A Company limited by guaran￿) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PRISCLLA BACON NORFOLK HOSPICE CARE LIMITED (CONTINUED) R•spon8ibiliti•s of trustees As explained more fully in the Trustees, reswjngbilibes statement. the Tw*ees {who 8re also the diwlors of the ¢haritable company for the purposes of ccffipany lawl a￿ responsble for the preparation of the financial statements and for being sab"slied that they gtve a true and fair vie•¥, and for such internal control as the Trustees delemiine is necessary to enable the preparatron of financial **ements that are free from material misslalement, I￿91h￿r due lo fraud or error. In preparing the financjal statements, the Trustees are re¥4)n￿ble for aSse￿n9 the Group's and the parent charitable cL)rnpanls ability to continue as a g￿n9 concem. disclosng. as applicable, matters related lo going concem and u&ng Ihe going ￿cern basis of a￿untIng unless the Trustees either intend lo liquidate the Group or the parent charitable company or to cease operations. or have ￿ realistic alternative but lo do x). Auditorn. re8ponslbHlties for the audit of the financial statemènt8 Our ot4'ectives are lo cl)lain reag)nable ¥knut Ythether the financol sL*ments as a %thole are free from material misststemenl, whether due to fra￿j or error. and to issue an Auditors. report that indudes our opinion. Reasonable assurance is a high level of assuran￿, tr¥Jt is not a guarantee that an audit CL)nducled in accordance with ISAS {UK) will a￿ayS delect a malefial misstatement %then il exists. Misstalernenls can arise from fraud or error and are considered material if. individually or in the agjregate. they could reasonably be expected lo influence the economic dea"sions of users taken on the basis of these financial stalemenls. Irregularities. induding fraud, are Instan￿ of ncn-compliance Vdilh laws regulab"ons. We design pr¢xedures in line wth our responsibilits"es, ouilined above, to detect material misstatements in respect of irregularities, Including fraud. The extent to which our wccedures are capable of detecting I￿egUlarities. including fraud is detsiled below. Enquiries with management and those Charged with govemance at(*ut ￿Y kn$)￿ or suspecled inslances of non-compliance wlh law5 arKI regulalK)ns and fraud. Reviewing Board minutes", Revie¥wng fina￿la1 statement disclosures and lesting to ￿p{thIng (*¢umentslion to assess cornpjiance th applicable laws and regulations", Auditing the risk of management ovenide of contrds irdLNJing Ihfough testing joumal entries and otrier adjustments for appropnaleness. Because of the fiekl in wh￿h the charitable company operates. we Identsfied the following areas as Ih05e most likely lo have a rnalerial impact on the financial statements.. Health Safety. Employment law.. GDPR., and compliar￿£ with the UK Companies Act and Charities Act. There are inherent limiL81ions in Ihe audit w￿&￿UreS dwibed at￿ve ￿ the further removed nonccrfnpliance th laws and regulations is from the events ar¥J transactions reflected in the financial statements, the less likely we would become aVrd￿ of it. Also, the risk of not delecbng a materral misstatement due lo fraud is higher than the risk of rtol detecting one resulting from error, as ffaud may involve deliberate ￿)nCealment by. for example, forgery ￿ intentional misrwesentstions. or through collusion. A further deviplion of our respongbilibes for Ihe audTt of the financial statements is located on the Financial Reporting Counol's web&le at." vrnw.fic.o Jauditorsr sbilities. This ￿e￿pIlOn forms part of our Auditots, ￿pOrt. Page 11 PRISCILLA BACON NORFOLK HOSPICE CARE UMifED IA company limit￿ by guaranleg) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PRISCILLA BACON NORFOLK HOSPICE CARE UMITED {CONTINUED Use of our report This report is made solety lo charitsble c£rfnpanls rrth)bers. as a b(th, in XC0rdar￿e V*ith Chapter 3 of Part 16 of the Companies Act 2C4)6. Our audil work has been undertaken so thal we might state to the charitable company's members those matters are wuired to stale to them in an Auditors, report and for no other purpose. fo the fullest extent pemiitted by law. we do not a￿p1 or assume respon&bility lo anyone other than the charitable ccmpany and its Mernt￿5. a5 a W. for our audrt work. for Ihis reForL or for the opinions we have fomed. Julie Grimm•r FCA DChA (Sonlorstatutory auditor for and on behalf of Larking Gowon LLP Chartered Accountsnts Slalulory Auclilors 1st Floor Prospect House Rouen Road Norwich NR1 1RE Date.. 11 April 2025 Page 12 PRISCILLA BACON NORFOLK HOSPICE CARE UMITED (A company limit•d by guarantse) CONSOUDATED STATEPAENT OF FINANCIAL ACTf4iTIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT> FOR THE YEAR ENDED 31 OCTOBER 2024 Unrestrfcted Restricted funds fund$ 2024 2024 Total fund$ 2024 Tot81 fvnds 2023 Income Irom: Donations and legacies Charitable activities Other trading aelivikn.es Investrnents 1.355.494 188.420 1.152.130 377.000 1.732.494 188,420 1.152,130 59,505 2,157, 171 14,695 980,861 56,821 Total income 2.755.549 3TI.01)O 3.132.549 3.209.548 Expgnditure on: Raising funds Charitable activilies 1.472.056 529.521 141.047 2.001.577 205.395 852.061 172.376 Total expenditure 1.536.404 670.568 2.206.972 1,024.437 Net In¢omel{oxpèndlture) Transfers teknn fuTras 1.219.145 232.554 1293.$68) 1232.$54) 925.577 2.185,111 17 Net movem•nt in funds 1.451,699 {526.122) 925,S77 2,185,111 Reconciliation of fvnds: Total funds brought fOr￿ard Nel movernenl in funds 945.235 1.451.699 13.765.834 (526,1221 14.711.069 925.577 12,525,958 2,185.111 Total funds carried forward 2.396.934 13.239.712 15.636.646 14.771.069 The Consolidated statement of financial activities includes all gains and losses re¢c#￿Ised in the year. The notes on pages 17 to 35 form part of these financial statements. Page 13 PRISCILLA BACON NORFOLK HOSPICE CARE UMITED {A company limited by guarantee) REGISTERED NUMBER: 09832765 CONSOLIDATED BALANCE SHEET AS AT 31 OCTOBER 2024 2024 2023 Fixed assets Tangits￿ assets Investrnents 13 13.188.671 11JO 13,572.924 14 13.188,771 13.572,924 Current assets Debtors Cash at bank and in hand 15 324.768 2.477.846 590.460 928.475 2.802.614 1,518.935 Creditors.. amounlsfalling due within one year 16 1354.7391 {380. 790) Net ¢urrnTht assets 2.447.875 1, 138, 145 Totsl net assets 15,636.646 14. 711.069 Charity funds Restricted furKI$ Unreslricled funds 17 17 13,239.712 2.396.934 13. 765,834 945.235 Tolal funds 15,636.646 f 4, 711,069 The Trustees aCknO￿edge their responsibilities for comptying with the requirements of the Act wilh respect to accounting records and preparation of financial statements. The finanaal statements were approved arKI aulhon.sed for issue by the Trustees and signed on their beharf by.. Andrew Barne$ Date". l+ The notes on pages 17 10 35 fomi part of these firtancial ststements. Page 14 PRISCILLA BACON NORFOLK HOSPICE CARE LIMITED (A Company limited by guarantee REGISTERED NUMBER: 09832765 CHARITY BALANCE SHEET AS AT 31 OCTOBER 2024 2024 2023 Nolo Fixed assets Tangible assets Investments 13 14 13,173,505 13,563.354 100 13.173.705 13.563.454 Curront assots Debtors Cash at bank and in har 15 262,031 2.462.763 537, 706 898.604 2.724.794 1.436.310 Creditors.. amounts falling due within one year 16 (328.913) (329, 680) Net ¢urrnnt assets 2.395.881 1. 106,630 Total net a88•ts 15.569.586 14,670.084 Charity funds Restricted funds Unrestrided funds 17 13.239.712 2,329.874 13,511.604 1. 158.480 17 rolal funds 15.569.586 14.670.084 The Charity's nel movement in funds for the Y￿ vrds £899.502 (2023- £2.268.994J. The Trustees ackn￿edge their respons4bilities for comptying with the requirements of the Act wth respect lo accountsng records and preparation of financial ststemen The financial stalemenls We￿ approved and aUth￿Sed for issue by the Trustees and signed on their behalf by.. Andrew Barnes Date.. 4+ W lol£ The notes on page5 17 to 35 form part of these finanoal ststements. Page 15 PRISCILLA BACON NORFOLK HOSPICE CARE LIMITED IA company limlted by guarantsg) CONSOUDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 OCTOBER 2024 2024 2023 Cash flows from operating 4¢tiviti6s Nel cash used in Lyrating ￿tIvitIeS 1.704.376 3.848,003 Cash flows from investing actlvltles Interest received Purchase of tangible fixed assets 51.521 1221.735) (7.380. 133) Net cash us8d In investing a¢tivltioS (162.230) (7.328,612) Changè in cash and ¢ash equSvalents in the year Cash arKI cash equNalents at the beginning of the year 1,542.146 928.475 13.480,609) 4,409.084 Cash and ¢a$h •qu•val•nts at the end of th• y•ar 2,470.621 928,475 The notes on pages 17 to 35 fomi part of these fin8nryal statements Page 16 PRISCILLA BACON NORFOLK HOSPICE CARE LIMITEO IA company limit•d by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 General inforniatlon Prisalla Bacon Norfolk Ho¥¥ce Care Limited is a company limited by guarantee domiciled in England and Wales, registralion number 09832785. The registered office is Pri￿llIa Bacon L¢)dg& Century Plac8. Colney. Now¢h, NorfolK United KingJ(*n. NR4 7Y Accounling pollcles 2.1 Basi$ of pr•paration of financial stat•ments The financial statements have t*en p￿pared in ac£ordance Wilh the Charities SORP IFRS 102} - Accounting and Reporting by Charities.. Statement of ReC(*MMen￿ Pwlice applicable to charities preparing their accounts in accordance vlith the Finanual Reporting Standard applicable in the UK and Republic of I￿land (FRS 102} (effective 1 January 20191. the Finan¢ial Reporting Stsndard aFplicable in the UK aTrJ Republic ol I￿land IFRS 1021 and the Cwpanies Act 2006. Priscilla Bacon Norfolk Hospice Care Limiled meets the definition of a public benefit entsty under FRS 102. Assets and liabilities are initially recc*3nised at hithical cost or transaction value unless otherwise stsled in Ihe relevant accounting poliw. The Conwlidated stslemenl of financial acbvities (SOFA) Conwlidated balan￿ sheet consotidale the financial slatemenls of the Charity and its subg'diary undertaking. The results of the subsdiary are consolidated on a line by line basi> The Charity has taken advantage of the exempts￿ all(MEd under sects'on 408 of the Companies Act 2(*)6 and has not wesented its own Ststement of financk81 aciivities in Ihese financial statements. 2.2 Going ¢oncem The directors have reasonable expectabon that the Charity and Group has adequate resources to ntinue in operational exislence for the foreseeable fulure. Thus they continue to a(k)pl the going r￿rn baws of a¢￿￿ntIng in preparing the annual financBI statements. Page 17 pRI￿ILLA BACON NORFOLK HOSPICE CARE LIPAITED (A company limlted by guaranta•} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Accounting policies {continued) 2.3 In¢om• All income is recognised or￿e the Charity has entiyement to the incom?, il is probable that the inccffle V•ill be received and the am0(￿ of inc¢)me re￿1¥able Can b8 measured reliably. The recognition of income from legaaes is dependent on esta￿lShi￿g ents"Ilement. the probability of receipt and the akn.lity lo esb.mate sufficient acujracy the amounl receivable. Evidence of enlillement lo a legacy exists %then the Charity has sufficient ev1deft￿ that a gift has been left to them (through kn￿edge of the existence of a valid will and the death of the benefaclorl and the executor is Sati￿led that the property in question V*ill not be fequired to satisfy daims in the estate. Receipt of a legacy must te recc#3nised when it is probable that it wll be wived and the fair value of the amount r￿1vable. vknich wll generally be the expected ¢ash amount to be distributed lo the Charity. can be reliably rnea￿Jred. Grants are inclL*Jed in the Con￿lIdated stalement of financial activities on a receivable basis. The balance of income rttwved for specrfic purFk)ses but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt. its recognition is deferred and induded in cr&Jilors as defe￿ed income. Whwe enlillement ' curs before inclyne is received. the income is accrued. tkjnated professional Servi￿ and donated faulthes a￿ reccgnised as a gfft. on receipt. on the bas¢s of the value that the company ¥￿Uld have i*en wlling to pay to obtain the services or faolities of ewivalent eo)nomic benefit on the open markel. a corresponding amounl is then recognised in expenditure in the period of receipt General volunteer lime is not valued and recognised in the financial statements. 1￿cthe tax recovefable in ￿latiOn to donali¢)ns rtteived urth Grft Aid or deeds of C•)venant is rec￿nISed at the b.me of the ¢*)nation. Income lax recoverable in relats.on to investment inccffie is reco3nised at the lime ttr* investment inccme is receNable. Donated assets are recognised as a gift. vthen the risks and rewards attached to ownership are transferred. Donated assets are reccgnised at fair value taking into account any re$triclions orb those a5set5 imposed by the donor. 2.4 Exponditure Expenditure is recognised On￿ th￿ is a legal ty constrwAive c4)ligalhJn to transfer economic benefit lo a third porty, il is probable Ihat a transfer of economic benefits will be required in settlement and the amount of the obligalion can be measured reliably. Expendf(ure is classified by activity. The costs of each a¢tivity are made up of the total of direct ￿$ts and shared costs, including support costs invdved in undertaking e￿h activity. Direct costs attribulable to a single activity are allccated directly lo that activity. Shared costs which contribute to rnore than Or￿ activity and SUPFQrt costs vh)ich are not attributable to a ￿ngle activity are apportioned between those activities on a bags congstent wlh the use of resour￿$. Central staff (xjsls are slloeated on the basis of lime spent. and deprecrab'on charges all￿*d on the p)rtion of the asset's use. Page18 PRISCILLA BACON NORFOLK HOSPICE CARE LIMITED IA company limiled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Aecounting poli¢i•s {continued) 2A Expendituro (continuod FUndrai￿r￿ costs are those Ir￿Tred in seekj.ng vduntary contribution5 and do not inclLKle the costs of disserninaling information in SUFP)rt of the charitable activities. Support costs are those costs incurred direcdy in support of expenditure on the 0￿"e¢l$ of the company and include project management. GovernarKe costs are those in(yJrred in eonnection with adminislralion of the company and complianee wlh constitutional arKI 5tstulory requirements. Costs of generatirwj furwts are costs In￿rred in attracliNJ voluntary income. and those incurred in trading activilies thal raise funds. 2.5 Interest r￿l¥able Interest on furKls held on dep)sit is Ind￿ when recwvable and the am￿nI can be measured reliably by the Group., this is normally upon notification of the inleresl paid ry payalJ& by the insts'tubon vthom the fur¥Js are deFogled. 2.6 Intanglble assets and amortisation Intsngible assets are inrtially rewJnised al cost. After recognitson, under the cost model, intangible assets are measured al (y)st fess any accumulated amthsats.on and any accumulated impaimient Amortisation is provided on intsThJitAe assets at rates calculated lo write off the cost of each asset on a straighl-line basis over its exFected u*ful life. Amortisation is provided on ltr* foll¢MrwJ basis". Sof*rnre 20 % straight line 2.7 Tanglble fixed ass•ts and d•pre¢lation Tangible fixed assets a￿ inilially rec￿niSed al cA)st. After recc¥JnÉlton, under the cost model, tangible fixed assets a￿ measured at cost less &cumulated depwialion and any accumulated impaim)ent losses. All cosls incurred to bring a tangible fixed asset into its intended working e4)ndition should be included in the measuTwnent of cost Depreciation is charged so as lo allocale the cc61 of tsryible fixed assets less Iheir residual value over their estimated useful lives_ t)epreciation is provided on the folIc￿n9 base>" Main building Other buil¢Jing related assets Equipmenl Fixtures and fittings Computer equipment 50 years straight line 5-25 straight line - 3-5 yeaTs straKJhl line 3 - 6 years slraighl line 3 years stRight line Page 19 PRISCILLA BACON NORFOLK HOSPICE CARE UMITED (A company limiled by guarant•• NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 A¢counting policies Iconlinued) 2.8 Invfjslmgnts Fixed asset investments are a fomi of financhal instrumenl and are initially recognised at their transaction eosl wbsequentty measured at fair value al the Balan￿ sheet dale. unless the value eannot be measured reliably in which case rt is measured at cost less impairment. Inveslmenl gains and losses. whether realised or unTealised, are combined and pre￿￿ted as'GatnfJ(Losses1 on investsnenls, in the Con￿lidated statement of financial a￿1Vitie& Investments in substdiaries are valued at cost less provision for wmwmienl. 2.9 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaKI nel of any trade discount5 due. 2.10Cash at bank and In hand Cash al bank and in hand indudes cash and short-temi highly liquid investments with a short maturity of three months or less from the dale of acquigkn.on or opening of the deposit or similar account. 2.11 Liabilities and provisions Liabilities are rewgnised kn the￿ is ￿ obligati¢)n al the Balance sheel d*e as a result of a past event, it is probable that a transfer of ewnomic tenefit wll be required in settlement. and the amcHJnt of the settlement can be estimated reliably. Liabilities a￿ rectrJnised at the amount that the Charity anticipates it Wbll pay lo settle the debt or the amount il has received as advanced payments for the goods or services il must provide. Provisions are measured at the best estr"m8te of the amounts required to settle the obligation. Where the effect of the ts.me value of morw is material. the proviyon is based on the present value of those amounts. discounted at the pre-tax diS￿Unt rate that reflects the risks specifi¢ to the liability. The unwinding of the discount is recognised in the Con¥)lidated statement of financial activities as a finan￿ cost_ 2.12 Financial inst￿MentS The Group only has finanaal assets aThJ financial li*Jilities of a kind that qualify as basic financial instruments. Bagc financial instruments a￿ initially recoanised at Iransadion valLJe and subsequently measured al their settlement value wtth the exception of bank loans which are subsequently measu￿￿ at amorbsed cost using the eff￿tiVe interest melhcd. 2.13 Operating leases Rentals paid un¢*r operatiThJ leases ¥e charged to ￿ Consolidated statement of financial adivities on a slraight4ine basis over the lease term. Page 20 PRISCILLA BACON NORFOLK HOSPICE CARE UMITED IA ¢ompany limited by guarant￿) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Accounllng pollclos {continu•d) 2.14 Pensions The Group operates a defined c￿tilbution Pen￿On s£heme and the penson charge represen15 the amounts payable by the Group lo the fund in respect of the year. 2.15 Fund accounting General fund5 are unrestricted funds vthich are available for use at the discretion of the Trustees in furtherance of the general 04"eth"ves of the Group and wthich have r￿1 been de&gnaled for other purposes. Des'gnated funds ecThprise unrestricted funds t￿ have been set asHde by the Trustees for particular purposes. The aim and use of each dwrkited fund is sel out in the notes to the financial statements. Resllided funds are funds which are to te used in accoTdan¢e wth Specif￿ restrictions imposed by donors or vthich have been raised by the GrcNJp for particular purposes. The costs of raising and administering such funds are charged against Ihe furKI. The aim and use of each reslrided fund is set out in the r￿teS to the financial statements. Investment inec¥ne. gains and losses are allct*ed to the apfvyopriale fund. Incomg frorn donations and 1oga¢ioS Unrestri¢led Restrict funds lurtds 2024 2024 Total funds 2024 Total funds 2023 tlonats¢)ns Legacies Grants Gift aid 987.962 138.626 2C6.248 22.658 987.962 138,626 583,248 22.658 631,825 26, 708 1,480,600 18.038 377.000 1,355,494 377.000 1,732.494 2. 157. 171 Total 2023 7.682. 137 4T5,034 2,15T.q71 Page 21 PRISCILLA 8ACON NORFOLK HOSPICE CARE UMITEO (A company limited by guardntee) MOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Income from charit•ble activitie8 Unrestr5cted fvnds 2024 Total funds 2024 Tot81 fvnds 2023 provi￿ ol htssp￿ care 188.420 188.420 14.695 Total 2023 14.695 14,695 Income from other tr*ding activities Income from lundralslng events Unrestrictod funds 2024 Total funds 2024 Total fun(ts 2023 Fundraising ineome 229,931 229.931 167.380 Total 2023 167,380 167.380 In￿m¢ from non chaTit•ble ￿dIng activltles Unrestricted funds 2024 Total funds 2024 Tolal funds 2023 t)onated 9)ods 922.199 922.199 813.481 Total 2024 922,199 922,199 813,481 Total 2023 813,481 813,481 Non